Catalogue exhibit #40
JPEG MILLIONAIRES
The Moment
The artwork presents a hundred-dollar bill with Benjamin Franklin's iconic portrait replaced by a Bored Ape Yacht Club NFT - one of the most valuable and recognizable NFT collections that dominated headlines in 2021. The substitution of America's founding father with a cartoon ape creates a striking commentary on how digital art and blockchain technology began challenging traditional notions of value and wealth.
Look Closer
The title "JPEG MILLIONAIRES" captures the surreal nature of the NFT boom, where digital images that could be copied and shared freely were selling for millions of dollars. This speaks to our deep-seated instincts about value, status, and scarcity - how humans can create worth through collective belief and social consensus. The juxtaposition of the cartoon ape on official currency symbolizes the clash between traditional and digital assets, while also highlighting the absurdist nature of NFT valuations. The piece captures a moment when the definition of valuable art and collectibles was being radically transformed, suggesting how digital scarcity and social signaling created a new class of wealthy individuals who made their fortunes trading what skeptics dismissed as merely expensive JPEGs. The modification of such a powerful symbol of traditional wealth and legitimacy (the US dollar) with an image representing new digital wealth creates a pointed commentary on shifting perceptions of value in the digital age.
The research library
Why moments like this hold value → The Science